Page 14 - UKRRptJun20

The Exploration and Production division is headed by Oleksandr Romanyuk, who had previously held the position of First Deputy CEO at Ukrgasvydobuvannya.
In his new position, he will be responsible for developing the division’s strategy and business plan, approving investment projects and budgets, managing operations of production units within the framework of the agreed strategy, budget and investment plan, appointing and dismissing employees, as well as occupational safety issues.
2.6​ ​Zelenskiy extends economic relief measures, asks cabinet for more
The Ukrainian government hasn’t taken enough measures to help the country recover economically ​from the coronavirus pandemic, President Zelenskiy told a May 28 meeting of officials to combat the virus.
Prime Minister Shmyhal assured him at the meeting that refinancing and employment programs are being planned, the ​epravda.com.ua​ news site reported.
The prior day, Zelenskiy signed a bill (#3329-d) extending until June 30 quarantine-related economic relief measures, including tax breaks ​on the salaries of medical workers and maintenance workers combatting the COVID-19 disease, the president’s website said.
The law also provides tax-free financial aid to employees and entrepreneurs who lost income owing to quarantine restrictions. Self-employed individuals are also freed from the social security tax for May.
The law grants local governments the ability to reduce tax rates on farmland and real estate​. The law also extends a moratorium on tax inspections, interest payments on consumer credit, late fees on tax payments, and penalties on tax violations.
Zelenskiy made his request a day after the cabinet reportedly presented a state program to overcome the negative effects of the coronavirus, as reported by the press service of the economic development ministry, which didn’t offer any specifics.
The program – “practically a road map” based on the proposals of ministers, local officials, entrepreneurs and experts – consists of about 230 measures, ​many of, which have been introduced, the statement said.
Ukraine’s medium and large enterprises drew a UAH4.9bn pre-tax net loss in 1Q20, compared to UAH111.1bn in net income in the same year-ago period, the State Statistics Service reported on May 25. Losses swelled by five times to UAH204.8bn, while income reached UAH199.9bn, more than doubling from a year ago. The portion of enterprises with a net loss reached 40.8%, compared to 27.2% in the year-ago period.
The 2019 state budget lost UAH33.5bn in revenue owing to tax breaks for business​, compared to UAH19.9bn in 2017, according to a study published on
14​ UKRAINE Country Report​ June 2020 ​ ​www.intellinews.com